Social Media is not just about marketing or technology

Rodriguez stated that, aside from social media being about marketing and technology, more and more it’s about how a product today is made or made better collaboratively. For non-government and government organizations it’s about how to raise money. Increasingly for all it’s about how work gets done. This is something that impacts both big businesses and small businesses.

Pedraja talked about how Google not only caters to big businesses but makes sure it is providing small businesses the online search tools that will allow for collaboration to happen instantaneously and speed up the business practice. For Google collaborating with businesses is in their DNA. You can find a host of Google Apps for Businesses online.

International Trade and Social Media are a Great Mix

Leguisamo stated that in Miami it’s increasingly important to create more cash flow between businesses both locally and internationally. Using social media to increase sales outside of the country can hugely impact the local market.

When the real estate market crashed in South Florida, ONE Sotheby’s was forced to look for new ways to generate interest in the local market. Fernandez says ONE Sotheby’s used social media to tap into the interest of foreign buyers. They madetheir Twitter, Facebook, blog and website available in three languages: Spanish, English and Portuguese. As a result, in 2011, 60% of their residential sales in Miami came from foreign buyers.

Having the right mix – SEO, Social Media and Sharing

When it comes to the communication outreach efforts of Business Wire, Portela says

“We see clients using a number of tools to not only get their messages across and extend the life of their press releases but to have a web presence and build relationships with media in both traditional and social media newsrooms as well. Having the right mix is not an `or’ proposition but an `and’ proposition to conduct business today. You have to leverage mobile, social media and traditional communication strategies.”

In retrospect, each panelist had a different take on how social media has helped their industry but all agreed that collaboration and communication is the key to building a new vision to power the economy.